SBA Loans – Tax Accounting Firm

We will help you with:

SBA Commercial Real estate

SBA Acquisition

SBA Boost Loan

SBA 7a loan over 350k

SBA Fast Track

SBA Start up

A SBA 7a to Refinance

However, to qualify for an SBA loan, your business must be a for-profit, U.S.-based company that meets SBA size standards, operates in an eligible industry, and demonstrates the ability to repay the loan from projected cash flow. You must also prove you couldn’t get credit on reasonable terms elsewhere, meet character requirements, and typically have a strong credit score. Additionally, you’ll need to provide personal guarantees, use the loan for an eligible business purpose, and meet the specific criteria of your chosen lender.

Key Eligibility Criteria

Business Must Be For-Profit and U.S.-Based:

Your business must be officially registered and operating legally in the U.S. or its territories.

Meet SBA Size Standards:

You must be considered a “small business” under SBA definitions, which vary by industry and are based on factors like number of employees or annual revenue.

Eligible Business Industry:

Certain businesses, such as those involved in lending, gambling, or illegal activities, are ineligible.

Ability to Repay:

You must demonstrate a strong ability to repay the loan through financial statements, projections, and a solid business plan.

Creditworthiness:

Lenders will assess both your business and personal credit history, though the SBA itself doesn’t set a specific credit score minimum.

Need for Financing:

You must show you couldn’t get the desired credit on reasonable terms from non-government sources.

Owner Equity and Commitment:

Business owners must have invested their own money or time into the business and demonstrate a commitment to its success.